Dollar plans outerwear & thermals unit in Ludhiana

Dollar Industries Ltd, one of the largest hosiery brands in India has plans to set up a new manufacturing unit in the knitting textile hub of Ludhiana.

Dollar will invest around Rs 25 crore in the unit which will be set up over a one acre plot and is expected to be operational by end of next fiscal year, The Hindu said.

Mr Vinod Gupta, MD of Dollar Industries said the new unit will manufacture thermals and outerwear. Dollar sells outwear under the brand name of ‘Force’, which includes trousers, chinos and jeans.

In the last fiscal year 2013-14, Kolkata-based Dollar Industries posted revenues of Rs 689 crore and net profit of around Rs 61 crore and is hoping to achieve a revenue growth of 24 percent this fiscal year to touch sales of Rs 850 crore.

Dollar has manufacturing facilities – both owned and outsourced in Kolkata, Tirupur, Delhi and Ludhiana.

Dollar which is currently listed on the Kolkata and Jaipur stock exchanges will also list on NSE or BSE in the near future and has appointed merchant bankers to oversee the same.

Mr Vinod Gupta added that Dollar will explore further fund raising options once its Ludhiana project is through and it has listed on a national stock exchange to meet SEBI norms.

Dollar, which also owns the license for manufacturing and marketing of Singapore based – Crocodile branded apparels, is planning to enter markets of Bangladesh and Pakistan later this year. It has a license to sell in all neighbouring countries and currently markets them in Nepal and Bhutan.